Manchester, Thursday 6th June 2019:

Praetura Ventures today announces it has closed its 2019 Enterprise Investment Scheme (EIS) fund at £15m, making it the largest-ever maiden EIS fund. It will use the money to help address the £300m venture funding gap in the North West of England. The £15m investment vehicle will back 8-10 tech-enabled early-stage businesses predominantly in the region, who will use the capital to hire key staff, invest in new technologies and, ultimately, scale.

The £15m amount was raised in just three months from investors across the UK, who saw value in Praetura Ventures’ ‘More than money’ approach and commitment to early-stage businesses. The firm already has a proven track record generating lucrative returns by backing early-stage businesses, investing over £100m since 2011.

The focus of the fund will be on backing exceptional management teams with scalable business models operating in exciting markets, with a view to providing profits to investors in approximately 5-7 years’ time. Praetura Ventures expects to invest two thirds of the fund in the North West region.

After beginning fundraising in March 2019, Manchester-based Praetura Ventures has already received significant interest from early-stage businesses and has an active pipeline of companies looking to receive funding. Praetura Ventures places an emphasis on adding value post-investment, so businesses backed by the fund will receive advice and guidance, as well as practical support, from a dedicated portfolio team.

David Foreman, Managing Director, Praetura Ventures, said:

“This is just the beginning of the journey for Praetura Ventures, as we focus on closing the considerable venture capital gap in the North West. There are a significant number of highly credible management teams and businesses which are capable of scaling rapidly with backing from the right partner, and we’re delighted to be in a position to provide that support. Our aim is to become a leading venture capital business in the North of England, and we look forward to providing funding and support to companies in the region and beyond.”

Jon Prescott, Business Development Director, Praetura Ventures, said:

“We’re delighted by the support we’ve received for our maiden fund. We have significant ambitions to become a trusted partner to investors and their advisers. Given the scale of interest we’ve already started looking at our next raise, which we anticipate launching in late summer 2019.”